Clydesdale Bank mortgage - end of fixed rates

blackcat75x4h

Hi,

I'm an IT contractor, I'm self employed through my limited company. I currently have a mortgage with Clydesdale bank, with a 2 years fixed deal.

I'm planning to start a business in a completely different industry. It will take time for my business to become profitable, and my first months of income might not initially impress a broker or a lender when it will be time to remortgage.

Do I have to provide a proof of income if I get switched automatically to the SVR rate? Can I negotiate a new deal without providing a proof of income, is Clydesdale known for allowing this?

glosoli

blackcat75x4h wrote: »

Hi,

I'm an IT contractor, I'm self employed through my limited company. I currently have a mortgage with Clydesdale bank, with a 2 years fixed deal.

I'm planning to start a business in a completely different industry. It will take time for my business to become profitable, and my first months of income might not initially impress a broker or a lender when it will be time to remortgage.

Do I have to provide a proof of income if I get switched automatically to the SVR rate? Can I negotiate a new deal without providing a proof of income, is Clydesdale known for allowing this?

As long as your mortgage is fully capital and interest, not going into retirement, and you haven't missed any payments in the last six months, and as long as you are not looking to make any other changers (i.e, term, borrowing amount), then you can simply apply online, with no income or credit checks.

https://secure.cbonline.co.uk/personal/mortgages/deal-ending/

You can initiate the process here, three months in advance of the product expiring.